1 Hour Personal Loan Review
Lender Rating: A
Fee Per $100: $11.49*
Loan Period: 80 days*
Pros: Very secure site, no faxing required, good rates and repayment terms and over 150 different lenders in their network.
Cons: No live chat or phone support (only email support), funds can take up to 1 day to receive.
How Does 1 Hour Personal Loan Compare To Other Payday Loan Lenders?
We ranked 1 Hour Personal Loan #3 this year for providing us with the 3rd best payday loan rate and repayment terms, as well as for having an almost perfect lender rating. See our Payday Loan Lenders List to see who came out #1 this year.
Full Review of 1 Hour Personal Loan
In the United States, every two out of five households currently live paycheck to paycheck. For many Americans, making ends meet can be difficult. Sudden financial setbacks can push people’s already strained finances over the brink and into the red. Car repairs, medical bills and cuts in work hours are just a few of the potential setbacks that can cut into a person’s finances. As quick as these hindrances can arrive, however, they can be overcome with instant online lending.
1 Hour Personal Loan, like the name implies, offers personal loans in as little as one hour. Although not a direct lending agency themselves, 1 Hour Personal Loan serves as a loan broker for online payday loan services from a multitude of different lenders. These payday loans can be used for any situation or circumstance imaginable, from paying off bills to funding a last minute trip for a family emergency. They have a simple three-step process to follow when applying for a loan, with most loans being approved or denied within 60 seconds.
1 Hour Personal Loan offers loans based on the borrower’s length of current employment, therefore no credit check is required for any applicant. Their website is relatively easy to navigate, but I felt they should have provided the usual information you would find on a real website, such as an About Us and FAQ section. However, they did do a good job with their How It Works section and all detailed information that helps learn how to get a short term loan really quickly.
1 Hour Personal Loan Features & Benefits
- 60 second application approval
- No credit check
- Up to $1,000 delivered overnight
- SSL secured application form encrypted by industry leader Thawte
- One page application
- Over 150 lenders in their network ensure you get multiple loan options
- No faxing of additional documents required
Our Favorite Feature of 1 Hour Personal Loan
The feature we liked best about 1 Hour Personal Loan was the absence of a requirement to fax in additional documents for verification purposes. Many payday loan processors require applicants to submit several documents via fax before an approval is received. As many people do not have access to a fax machine at their immediate disposal, this feature was invaluable for borrowers looking to access funds quickly.
1 Hour Personal Loan Application Process
The landing page for 1 Hour Personal Loan has a very simple 3 part application process to follow for applicants seeking a loan. All information required is gathered on the home page, where interested parties are asked to provide basic personal information, such as name, date of birth, social security number, address, city, state, zip code, phone number, email address, as well as the amount the applicant wants to borrow. The site is SSL secured via Thawte to safeguard borrower’s financial data against any potential hacking.
In addition to the basic personal information, 1 Hour Personal Loan also requires current employment information such as the name of the company or business the applicant is receiving an income from, the address and phone number of the company, as well as how much and how often the applicant is paid. They don’t actually contact your employer though, so don’t worry about receiving any random calls just to get your payday loan. Length of employment with the current company should also meet a minimum request.
The final pieces of information that 1 Hour Personal Loan collects for applicants is personal financial information, which will be used to ensure the money being loaned arrives in the proper place. This information includes the name of the financial institution where the applicant has an account, bank name, phone number, personal account number, and bank routing number.
1 Hour Personal Loan Loan Requirements
All applicants must have attained the age of 18, be a legal resident of the United States and must not live in an area or state that prohibits the process of payday loans. In addition, further requirements may be stipulated by the lender with whom the applicant is matched, in which case these requirements will be made known by the lender prior to the loan being approved and released to the applicant.
1 Hour Personal Loan Loan Repayment Process
There isn’t any available information on the website regarding how an applicant is expected to repay the loan or under what timeframe. Since 1 Hour Personal Loan serves as a broker and not a direct lender, the repayment terms vary depending on what lender the borrower is partnered with for the transaction. Before taking out a loan from a third party, it is best to read up on that company’s policies and figure out the exact terms of the loan you are agreeing to.
1 Hour Personal Loan Customer Support
Unfortunately, there isn’t any online Customer Support available on the website. Applicants that have any questions or comments regarding use of the system, privacy policies or terms and agreements can submit their concerns via email to an admin address affiliated with the website: email@example.com. Replies are generally returned within 24-48 hours of being submitted. Although this doesn’t sound like very long, those seeking an immediate loan may find themselves inconvenienced by the delay.
1 Hour Personal Loan Pros
- Your application is fielded to over 150 different lenders
- Cash is normally transferred within 24 hours of approval
- Applicants do not have to fax additional documents
- Website is easy to navigate
- Site is available in English or Spanish
- Very secure SSL encrypted site
1 Hour Personal Loan Cons
- Loan repayment info not provided
- Only form of customer support is via email
About 1 Hour Personal Loan
1 Hour Personal Loan was established in 2005 and provides us with remuneration for all new clients that receive a payday loan. However, they do not actually offer cash advance or decide the approval of the loan itself. Instead, 1 Hour Personal Loan offers their customers the service of matching them with the most suitable loan provider. The website searches for the best interest rates and highest amount for your loan from banks, loan companies and other payday loan lenders. Scottsdale, Arizona is where 1 Hour Personal Loan operates its business, but the website doesn’t provide the exact physical address or phone number of the company.
Learn more about 1 Hour Personal Loan at http://www.1hourpersonalloan.com
* These are the loan rate and repayment terms I got when I applied for my personal loan through 1 Hour Personal Loan. I have superb credit (even thought hey claim not to check your credit) and a long employment history. I believe these are 2 most important factors for getting the best loan terms possible.